BTC - Capitulation must be incomplete as the volume is missing
BTC Capitulation must be incomplete.
Because Capitulation is usually a very large bar down with lots of accompanying volume .
Also in the past, capitulation bars down have traveled an average of 33% down; However in this case the current bar has only traveled 19% down.
Plus in this situation we dont see the large capitulation bar or the large accompanying capitulation volume which should be on the bottom of the graph.
Hence this must mean that capitation is incomplete and there is more downside left for BTC to travel
Because Capitulation is usually a very large bar down with lots of accompanying volume .
Also in the past, capitulation bars down have traveled an average of 33% down; However in this case the current bar has only traveled 19% down.
Plus in this situation we dont see the large capitulation bar or the large accompanying capitulation volume which should be on the bottom of the graph.
Hence this must mean that capitation is incomplete and there is more downside left for BTC to travel
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The missing capitulation volume could be because the weak hands have already been shaken out of the market and the remaining participants are long term holders - but then where is that confirmation shakeout volume ?
Either-way Its best to be cautious at this current location and wait till the end of the week before entering any trades.